- WLFI has partnered with Pakistan to enhance ‘blockchain innovation’
- Agreement happened after CZ’s recent appointment as a strategic crypto advisor to the country
On 26 April, World Liberty Financial (WLFI), the DeFi project backed by President Donald Trump, entered into a partnership with the Pakistan Crypto Council (PCC).
WLFI officials, led by co-founders Zachary Witkoff and Zachary Folkman, signed a Letter of Intent (LoI) with the PCC. According to a PCC statement, the collaboration is aimed at ‘accelerating’ blockchain innovation in Pakistan.
For his part, PCC’s CEO Bilal Bin Saqib noted that cooperation is “strategic.”
“Our collaboration with World Liberty Financial is more than just a partnership; it’s a strategic move to empower our young population and integrate Pakistan into the future of global finance.”
Binance’s CZ influence?
The scope of the collaboration will include regulatory sandboxes for testing various Web3 products, tokenization experiments, and leveraging stablecoins for remittances and trade.
Additionally, the country will benefit from a strategic advisory on its blockchain systems.
In fact, the PCC recently appointed Binance’s Changpeng Zhao (CZ) as a strategic advisor. The WLFI leaders later met with CZ in Abu Dhabi, alongside PCC’s CEO. WLFI said,
“WLFI’s founders, Zach Witkoff, Zach Folkman, met with CZ, to talk about growing global adoption, setting new standards, and pushing crypto to the next level.”
Bin Saqib echoed a similar sentiment and added,
“Our goal is to work alongside industry leaders and showcase Pakistan as a global case study in how emerging markets can harness blockchain to create transformative opportunities.”
It remains to be seen which practical crypto experiments will be announced first from the agreement.
Here, it’s worth pointing out that WLFI has formed several partnerships and products as part of its expansion strategy, including launching a stablecoin – USD1.
According to Arkham data, the DeFi project had $103 million worth of crypto as of press time. Most of the stash ($22 million) was in USDC, while wrapped Bitcoin ($15M) and ETH ($14M) were the second and third-largest holdings.
Source: Arkham
